Revenue reached $876 million, an increase of 41% on the corresponding quarter a year ago.
The average revenue per user, a stat that bothers the company a great deal, stayed at $45, well short of the $52 that it needs to achieve in order to break even. This is down from the $46 achieved for FY2019 though NBN Co did not mention this, preferring instead to say that the $45 represented a rise of $2 from 1Q 2019.
The company said that 10.2 million premises were ready to connect by the end of the quarter while six million had already connected.
NBN Co chief executive Stephen Rue said: “We remain on track to complete the volume rollout of the network by 30 June 20204. When we reach this important milestone next year, ubiquitous, high-speed broadband will be available across this vast nation.
“During this quarter, around 40,000 Australian homes and businesses started experiencing the benefits of high-speed, secure and resilient nbn services every single week, and while we know we have much more to do in collaboration with the industry to improve customer experience, it’s pleasing to see that our overall customer satisfaction scores are improving."
Installation costs per premises increased for fibre to the node, rising from $2246 a year ago to $2313 for the current quarter. Costs for fibre to the curb, a recent addition to the NBN Co's technology offerings, rose from $3129 in the final quarter of 2019 to $3198 for this quarter.
HFC costs also rose, from $2433 in the first quarter a year ago to $2658 for 1Q 2020. Fixed wireless went up from $3784 to $4280.
Said Rue: “We’ll continue in our steadfast commitment to make high-speed broadband accessible to all Australians. As a result of the considerable investment we’re making in the network and the significant wholesale discounts and additional data inclusions we plan to introduce in the coming months, in conjunction with our retail partners, we will continue to enhance our high-speed broadband offering to customers.
“Working closely with our retail and delivery partners we will help to offer the best possible experience to our valued customers, lift the digital capability of Australia, and deliver enhanced social and economic outcomes for Australians.”
In a statement, Communications Minister Paul Fletcher said: “This strong start to the fiscal year has seen nearly 500,000 premises activated in the three months to 30 September, an increase of 38% since the 2018-19 first quarter.
"This has pushed the total number of connected premises well over the 6 million mark, with more than 10.2 million homes and businesses now able to connect to the network.”
Finance Minister Matthias Cormann said: “NBN Co continues to deliver strong financial results in line with its performance benchmarks in its 2020-23 Corporate Plan, with total revenue up compared to the first quarter of 2018-19 and business revenue of $149 million also up from $102 million in the same period last year."